Stock Market & Financial Investment News

Ship Finance to acquire two container vessels, settles claimShip Finance announced the agreement to acquire two 5,800 teu post-panamax container vessels built in 2001/2002 in combination with long-term charters. The vessels are expected to be delivered to SFL over the course of the next few weeks, and the annual EBITDA contribution is estimated to be approximately $5.5M on average during the charter period. The charters include a purchase option with profit share after 5 years. The company is also pleased to announce the settlement of a claim relating to four Handysize dry bulk carriers which were redelivered to us in 2012, before the final maturity of their charters. A significant portion of the settlement amount has been paid to us in cash already, with the remaining amount to be paid in installments over the next three quarters. The company expects to book a gain of approximately $25M relating to the settlement.